Blockchain company SIMBA Chain has been awarded a contract to build a system for forecasting demand for “critical” military hardware parts from the US Navy.
The US Department of Naval Research has signed a $ 1.5 million contract to create a blockchain system that will help ensure uninterrupted supplies of military equipment.
SIMBA Chain said it was contracted to implement the second phase of its Small Business Innovation Research (SBIR) program to create a demand-sensing system that anticipates the need for “critical” military hardware parts.
The blockchain solution will be built for the U.S. Department of Defense Logistics Agency and aims to reduce disruption issues and threats to engineering and maintenance operations.
The contract for the development of the ALAMEDA project began on January 6. The project will be implemented at the Naval Training Center at the Naval Air Force Base in Jacksonville. SIMBA will also continue to work on the first phase of a blockchain project for supply chain tracking.
“Blockchain is well suited to solving complex supply chain problems because it provides a decentralized mechanism for recording irreversible transactions, making data immutable, verifiable and tamper-proof after being written,” said SIMBA Chain CEO Joel Neidig.
Recall that SINBA Chain began work on the ALAMEDA project in May last year after signing a contract with the US Department of Defense.